Comments on: Financial Goals for 2008: Reviewing Our Progress

By: Danielle

Danielle — Mon, 19 Jan 2009 06:35:15 +0000

Congratulations on your 2008 goals! Some comments…

Kids and Money – Isn’t now a great time to introduce them to money matters? Let them see what reactions you are making in the family finances?

Creating a user manual for your financial life – I intend to just use a password protected computer spreadsheet and put it on a flash drive in our “emergency bag”. That way in the event of a house fire, flood or other emergency (when you yourself might need to reference the information) you don’t have to remember to grab this big notebook?

For my own personal goals, I am not sure I had a lot of qualified goals (or at least can’t find any with specific $ amounts associated with it) but in general…

I now have an emergency fund of about 2 months expenses (and now that I am unemployed I might even need to tap it in 2009).

Our debt was reduced by $13K.

Minimum payments on our credit cards are < 1/2 what they were in Jan 2008. All credit card balances are on a 0% offer till the end of 2009 and while my job loss has reduced what we can put towards it, we still pay much more than the minimums.

Good luck to everyone on formulating 2009 goals and don’t forget to check in on them every quarter!

By: Mary

Mary — Mon, 12 Jan 2009 00:55:03 +0000

By the grace of God and the wise counsel of Dave Ramsey, 2008 was our best year yet.

By: nickel

nickel — Wed, 07 Jan 2009 14:39:03 +0000

taxrascal: Yeah, I was really thinking of a user manual for my own, very personal, financial life. Keychain is a good analogy (esp for a Mac user!), or perhaps roadmap (to let my wife know where everything is located).

By: taxrascal

taxrascal — Wed, 07 Jan 2009 06:08:17 +0000

When I saw that you wanted to write a User Manual for your Financial Life, I thought your blog would count as a huge success there. I guess the description clarifies things a little — maybe your blog can be a ‘manual’, and that other project can be the ‘keychain’ (some computer programs use the ‘keychain’ metaphor for the list of usernames and passwords a single person uses — I know you’re going a little beyond that).

By: nickel

nickel — Sun, 04 Jan 2009 23:43:16 +0000

j: Long Term DISABILITY, not Long Term CARE. I agree that it’s very early for LTC, but now is exactly when I should be thinking about LTD.

By: j

Sun, 04 Jan 2009 12:27:52 +0000

Maybe you set too many goals last year! Be very proud of your success – that way outweighs the failures.

As for the long term care policy, I think you are too young to get the best deal for you – my research shows that purchasing it in your early 60s is the best for price vs. benefit. I will be anxious to read your take on this as you research it.

Now, why not let those kids pick a product that is new and trendy and let them buy just a few shares of stock in that company. Don’t manage it for them, let them learn this like they have learned everything else – you walk before you run. Have a great 2009.

By: Ruchika

Ruchika — Sun, 04 Jan 2009 10:46:28 +0000

Met my goal – started a blog which is doing very well.

By: Gary

Gary — Sun, 04 Jan 2009 08:22:40 +0000

I understand wanting to protect your children and there money. However, During there life time they will encounter a dip in the market. Now would probably be the best time to get them in. Stocks on great companies are cheap some at 10 year lows. You could also teach them how and what to do IMO when the market does go bear.

Use Google Finance portfolios as a “game” there no money is involved but they can learn from their mistakes. They can allot an initial deposit and choose a commission price to play with safely.

By: Studenomics

Studenomics — Sun, 04 Jan 2009 04:39:51 +0000

I definitely surpised myself this year with how much I was actually able to save while still managing to enjoy my life. I still travelled, went out, took time off, all while reaching all of my financial goals. To be honest I coudn’t have done it without entering the world of pf blogs. I started researching pf at the start of the year and ever since have been hooked.

By: Bill M

Bill M — Sun, 04 Jan 2009 02:58:07 +0000

I have managed to pretty much attain all my goals. Maxed Roth, Paid about half of my total debt, and healthy. As long as you have good health to continue working and doing the things you love each and every day, that is all it really matters on the end.

By: thomas

thomas — Sat, 03 Jan 2009 07:48:57 +0000

I was able to max my IRA, come close to 401k, and bought a house. Pretty big financial moves in 2008 for me. I’m hoping to do the same with the IRA and 401k, and find ways to increase my home value.

Best of luck to all in 2009.

By: Trevor - 14 Year Old Money Blogger

Trevor - 14 Year Old Money Blogger — Sat, 03 Jan 2009 02:14:52 +0000

Yup. Always stick to one rule. Keep my finances healthy for the present and the future.